The 5 Greatest Entrepreneurs Of All Time And What You Can Learn From Them

Being a business owner can make you feel like you really have no one to turn to for advice.

But yet, one of the most important things to do as a business owner is to avoid the mistakes of others and build on what you know.

There are many ways to do this. Numerous books come out every year that address the plight of the entrepreneur and provide tips and advice on every topic of business you could think of. Entrepreneurial groups where business owners of similar sized businesses can come together to discuss meet almost everywhere.

Another way to prepare for being the best entrepreneur possible is to study the successful methods of those who have gone before you.

Here are some of the most well-renowned entrepreneurs of all time and the bits of advice they have passed down.

1. Andrew Carnegie

Famous for his production of steel, Andrew Carnegie has been considered one of the first real rags to riches stories.

He was primarily self-taught when he started with Western Union as a messenger boy and telegraph operator, but he eventually found himself as one of the richest men of all time.

While he may or may not have been the originator of the saying "surround yourself with people who are smarter than you," he certainly lived out that motto in his business affairs. One of Carnegie's key parts of his business plan were the young but exceptionally well educated men he brought in to his business.

2. Estee Lauder

To many women everywhere, her name means cosmetics. In a time where women weren't typically involved in business, Estee Lauder founded one of the most enduring retail brands.

Her approach centered on quality: quality of product and of customer service. Her quality based approach included providing free samples of her products and teaching her staff about attention to detail in customer service. If you run a business that sells a product, some of these tips may work for you.

3. Phil Knight

Nike. Just the word brings to mind all kinds of images. And that's the idea.

Knight may very well be the face of branding (no pun intended). His ad campaigns for Nike have encompassed their catchy slogan as well as a bevy of celebrity athlete endorsements. In many ways, Knight has changed the idea of how to brand your company.

But in case you don't have a Nike sized budget for advertising, the most important thing to take away from his success is the idea of branding yourself on your advertisements, merchandise, everything. The goal is to have your name associated with your brand.

AP

4. Steve Jobs

Creating products that appeal to a certain crowd of people is how Steve Jobs makes his fortune and sells some of the most popular products of all time. As the co-founder of Apple, Jobs has focused on making products that appeal to the consumers' desire for easy to use products.

He has found his niche in the market and Apple products are everywhere. Finding your niche in the market and making products that appeal to your consumers is one of the easiest and yet most elusive aspects of being a business owner.

Taking a serious look at the typical consumer and identifying his wants and needs is a good first step towards creating your place.

5. Ray Kroc

Last but not least, the founder of McDonald's.

While McDonald's name is familiar in almost every country around the world, there are a great number of people who don't know where the business came from. Kroc was already fifty two years old when he discovered a small restaurant run by the McDonald brothers through his business as a kitchen equipment salesman.

He liked the idea of a restaurant with a limited menu and wanted to make the McDonald's restaurant a name all over the world. Perseverance was Kroc's life theme throughout the years before he founded McDonald's, and during the time it took to build up the empire, he never stopped working. This is a lesson to all the mature entrepreneurs: success can come at all stages of life.

In fact, one of the most quickly growing groups of business owners is the retirees. A little perseverance is all it takes.

Of course, these leading entrepreneurs have significantly more to teach than the basics of running a good business. A little research on your favorite(s) can provide a wealth of information regarding good business tactics and successful ways to run a business.

The options for expanding your knowledge about business and being an effective entrepreneur are endless so don't ever feel like you have nowhere to turn when your business faces a problem. There are always people to turn to, past or present!